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Intellectual Property Rights

A knowledge economy and internet in particular thrives and grows on the basis of Intellectual property developed by the company's founders and employees. A patent is a culmination of an inventor's best thinking over years, refined by 100s of iteration of description, drawings and claims. In developed countries infringement of patent , trademarks and copyright leaves even Giants like Microsoft, Google and Samsung with bloody nose. The developing world is also fast waking up to powers of Intellectual property. Simplibuy Technologies (P) Ltd takes pride in declaring that business system and processes used in WiC (Where is Cheapest) are based on its patents as mentioned shown in the table below:

S No Country Patent Number Priority Date Status Remarks
1 Australia 201100399 dated 28 Apr 2011 05 May2011 Granted Prosecution rights to be applied for
2 India 425/MUM/2010 05 May2011 Pending Early examination requested in May 2011
3 USA USPTO 13/101,239 05 May2011 Published To come up for examination

The marking patent pending serves to notify potential infringers who would copy the invention that they may be liable for damages (including backdated royalties), seizure, and injunction once a patent/prosecution rights are obtained in a/m countries.

Legislations
Australia

In Australia, according to IP Australia, the term "patent pending" refers to an invention in respect of which a patent application has been filed at the patent office but for which a patent has not necessarily been granted. [2] The marking of an article has a legal effect under Section 123 of the Patents Act 1990 with the result that a defendant is taken to be aware of the existence of patent rights. [3]

In Australia, the preferred marking is "Aust. Pat. App. No. yyyynnnnnn" where "yyyy" is the four-digit year of the application and "nnnnnn" is the six-digit number allocated by the Australian Patent Office.

United States

"A patentee who makes or sells patented articles, or a person who does so for or under the patentee is required to mark the articles with the word "Patent" and the number of the patent. The penalty for failure to mark is that the patentee may not recover damages from an infringer unless the infringer was duly notified of the infringement and continued to infringe after the notice.

"Patent Pending." The phrases has no legal effect, but gives information that an Simplibuy has filed for patent in the Patent and Trademark Office. The protection afforded by a patent does not start until the actual grant of the patent. On grant of patent, Simplibuy will have all options of demanding royalties, revenues, damages, injunctions as applicable under US patent laws.

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